New York - 16 July 2007

KBW Asset Management, Inc. (KBWAM), a wholly owned subsidiary of KBW, Inc. (NYSE: KBW), today announced the appointment of John B. Wimsatt as Managing Director and Portfolio Manager for the KBW Financial Services Fund and the KBW Small Cap Financial Services Fund effective immediately. He replaces Michael O’Brien who is retiring from KBW after 22 years of service, the last eight at KBWAM.

Mr. Wimsatt was most recently a Portfolio Manager and Analyst focusing on financial stocks at Levin Capital Strategies, an alternative asset management firm with approximately $2.5 billion in assets under management. Prior to joining Levin, he also held positions at Franklin Mutual Advisors, Weston Capital and Axia Capital Management. Mr. Wimsatt holds a B.A. in Finance from Farleigh Dickinson University in New Jersey.

“John Wimsatt has more than a dozen years of experience working as an analyst and investor in the financial services sector,” said Peter E. Roth, KBWAM CEO. “He brings an intimate knowledge of companies, management teams and industry issues that is essential to successfully manage a portfolio in today’s market environment.”

“Financial services is the single largest sector of the market,” noted John Wimsatt. “KBW has a well earned reputation for understanding the sector better than any other firm on Wall Street and it is a thrill to be part of this organization.”